Resale profitability is at a 20‑year high, with almost all Australia’s property resales making a profit in the last months of 2025, according to research into sales data released this week.
Cotality’s latest Pain & Gain report shows that Australian housing resale profits strengthened in the December quarter, with most properties selling at a gain.
Of the 102,000 resales analysed in, 95.9 per cent recorded a profit, up slightly from 95.6 per cent in the previous quarter and the strongest result since 2005. The median gain reached a record $365,000, while the median loss edged higher to $45,000.
Cotality Head of Research Gerard Burg said the strong result largely reflects the accumulation of value growth over recent years rather than a sudden uplift in current market conditions.
“Resale profitability remains very high, but these gains have been built over time”, Burg said.
“Most sellers have held their property for close to a decade, so the results we’re seeing now are a product of sustained value growth rather than short-term market movements.”
Nationally, houses outperformed units, with 98.1 per cent of house resales recording a profit compared with 91.2 per cent of units. Median gains were also significantly higher for houses at $428,000, versus $246,500 for units.
Burg noted losses were most heavily concentrated in the unit sector, particularly across parts of Sydney and Melbourne, where increased supply has weighed on values.
“The performance gap between houses and units has continued and widened over recent years, reflecting both stronger demand for detached housing and a more challenging supply dynamic in some apartment markets”, Burg said.
Brisbane recorded the strongest profitability of any capital city in the December quarter, with 99.9 per cent of resales delivering a gain and a median profit of $500,000, underpinned by a decade of growth that has seen dwelling values more than double.
Adelaide was second, with 99.4 per cent of profitable resales and a median gain of $445,000, up from $404,000 in the previous quarter. Perth recorded a similarly strong result, with 98.6 per cent resales achieving a gain and the median dollar value rising to $430,000 from $360,000.
In Sydney, 93.3 per cent of resales achieved a profit. Despite the lower share, the city recorded a median gain of $430,000, supported by a longer median hold period of 10.4 years compared with 9.2 years nationally.
Hobart recorded 97.2 per cent of resales at a profit, with a median gain of $322,000, while the ACT saw 93.8 per cent of resales in profit, with a median gain of $325,000. Melbourne recorded the lowest level of profitability at 91.5 per cent, with a median gain of $324,000. Losses were concentrated in the unit sector, particularly across the inner-city where increased supply has weighed on values.